Morgan & Morgan has advised Platinum Brands, S.A. (“PBSA”) in the acquisition of assets related to the operation of the Kentucky Fried Chicken (KFC) and Dairy Queen franchises in the Republic of Panama, previously owned by Franquicias Panameñas, S.A. (“FPSA”). Within the framework of this transaction, PBSA has assumed the operation of more than 70 fast food restaurants, as well as the entire payroll associated with these establishments. The acquisition involved a complex structuring that allowed PBSA to assume the assets of the business and certain liabilities with suppliers, in a strategic alliance with FPSA. In addition, Morgan & Morgan provided strategic advice to Norbrook Equity Partners in the structuring and closing of two secured credit facilities, which were instrumental in financing a portion of the purchase price.
PBSA has expressed its excitement for the opportunity to lead the growth of these iconic franchises in Panama through a significant investment. Plans include renovating existing restaurants, modernizing their facilities, and improving the customer experience. In addition, PBSA aims to open new locations in various strategic locations across the country, which will not only expand KFC and Dairy Queen’s footprint, but also generate new employment opportunities and economic development in local communities.
This substantial investment reflects PBSA’s commitment to innovation and quality, ensuring the continuity of franchises in the fast food market in Panama. Collaborating with FPSA as minority partners further strengthens this initiative, bringing their local knowledge and expertise to the projected growth.
PBSA is a subsidiary of Norbrook Equity Partners, a Jamaica-based investment firm that operates a number of companies in the Caribbean and now Central America. With a proven track record of creating value through exceptional and enhanced growth strategies, Norbrook Equity Partners is well-positioned to drive the continued success of these franchises in the region.